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MELBOURNE, April 5, 2020 /CNW/ - OceanaGold Corporation
(TSX: OGC) (ASX: OGC) (the "Company") is pleased to announce
that the Board of Directors (the "Board") has appointed
Michael Holmes to the permanent role
of President and Chief Executive Officer.
Mr. Holmes is a mining engineer with over 30 years of experience
working in Australia, New Zealand, Asia, and North and South America. He has broad operational
experience in underground and open pit gold, copper, lead, zinc and
nickel mines. Mr. Holmes joined OceanaGold in 2012 as its Chief
Operating Officer. Prior to joining the Company, he was the General
Manager of Glencore's Alumbrera operation in Argentina responsible for the large open pit,
processing, transport and port facilities and for the management of
the feasibility study for the Agua Rica Project. Prior to that, he
was the General Manager of the Mount Isa Copper operation in
Australia, managing the
large-scale underground mine and concentrator.
Mr. Holmes holds a Bachelor of Engineering (Mining) degree from
the University of Queensland and is a
member of the Australasian Institute of Mining and Metallurgy.
Mr. Ian Reid, Chairman of the
Board said, "Michael is a very experienced industry veteran with a
deep knowledge of the OceanaGold business. He has a proven track
record as a skilled and capable leader and has the full confidence
and support of the Board, as well as the commitment and alignment
of the executive team."
He added, "the Board congratulates Michael on his permanent
appointment as President and CEO. With this mandate, the Board
looks forward to working closely with him to drive, implement and
achieve OceanaGold's strategic goals, deliver on the Company's
commitments and advance our organic growth opportunities."
Authorised for release to market by OceanaGold Corporate Company
Secretary, Liang Tang.
www.oceanagold.com | Twitter: @OceanaGold
Additional Information Pursuant to ASX Listing Rule
3.16.4
The Company refers readers to the company announcement dated
18 March 2020 and confirms that there
is no additional change to the remuneration arrangement for Mr
Holmes.
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, multinational
gold producer with assets located in the
Philippines, New Zealand
and the United States. The
Company's assets encompass the Didipio Gold-Copper Mine located on
the island of Luzon in the
Philippines. On the North Island of New Zealand, the Company operates the
high-grade Waihi Gold Mine while on the South Island of
New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which
is made up of a series of open pit mines and the Frasers
underground mine. In the United
States, the Company operates the Haile Gold Mine, a
top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 with a proven
track-record for environmental management and community and social
engagement. The Company has a strong social license to operate and
works collaboratively with its valued stakeholders to identify and
invest in social programs that are designed to build capacity and
not dependency.
For 2020, and subject to the cautionary statement below, the
Company expects to produce between 360,000 and 380,000 ounces of
gold from Haile, Waihi and Macraes combined at a consolidated
All-In Sustaining Costs ranging from $1,075 to $1,125
per ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release may be
deemed "forward-looking" within the meaning of applicable
securities laws. Forward-looking statements and information relate
to future performance and reflect the Company's expectations
regarding the generation of free cash flow, achievement of
guidance, execution of business strategy, future growth, future
production, estimated costs, results of operations, business
prospects and opportunities of OceanaGold Corporation and its
related subsidiaries. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ materially from those expressed in the forward-looking
statements and information. They include, among others, the
outbreak of an infectious disease, the accuracy of mineral reserve
and resource estimates and related assumptions, inherent operating
risks and those risk factors identified in the Company's most
recent Annual Information Form prepared and filed with securities
regulators which is available on SEDAR at www.sedar.com under the
Company's name. There are no assurances the Company can fulfil
forward-looking statements and information. Such forward-looking
statements and information are only predictions based on current
information available to management as of the date that such
predictions are made; actual events or results may differ
materially as a result of risks facing the Company, some of which
are beyond the Company's control. Although the Company
believes that any forward-looking statements and information
contained in this press release is based on reasonable assumptions,
readers cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether as a result of new information, events or otherwise, except
as required by applicable securities laws. The information
contained in this release is not investment or financial product
advice.
SOURCE OceanaGold Corporation